INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense Provision (Benefit)

The income tax provision (benefit) for the years ended December 31, 2022, 2021, and 2020 consists of the following:

(In thousands)	2022		2021		2020
Current
Federal	$	—	$	—	$	(376)
State	3,101		233		—
Deferred
Federal	164,453		130		(175,309)
State	20,627		(3,984)		(17,778)
Valuation Allowance	(185,080)		3,854		193,297
Total Tax Benefit (Expense)	$	3,101	$	233	$	(166)

Schedule of Reconciliation of Reported Amount of Income Tax Expense (Benefit)

The following is a reconciliation of the reported amount of income tax benefit for the years ended December 31, 2022, 2021, and 2020 to the amount of income tax expenses that would result from applying the statutory rate to pretax income (loss).

(In thousands)	2022			2021			2020
Income (Loss) Before Taxes and NOL	$	776,338		$	6,594		$	(906,207)
Federal Statutory Rate	21.00		%	21.00		%	21.00		%
Taxes Computed at Federal Statutory Rates	163,031			1,385			(190,303)
State Tax (Benefit), Net of Federal Taxes	20,270			(3,752)			(20,881)
Deferred Tax Adjustment	3,532			(1,488)			3,686
Share Based Compensation Tax Deficiency	—			—			—
Net Operating Loss Adjustment	—			—			12,494
Other	1,347			234			1,541
Valuation Allowance	(185,080)			3,854			193,297
Reported Tax Expense (Benefit)	$	3,101		$	233		$	(166)

Schedule of Components of Deferred Tax Asset (Liability)

The significant components of the Company’s deferred tax assets (liabilities) were as follows:

	Year Ended December 31,
(in thousands)	2022		2021
Net Operating Loss (NOLs) and Tax Credit Carryforwards	$	134,103	$	150,736
Share Based Compensation	901		570
Accrued Interest	1,019		1,031
Allowance for Doubtful Accounts	1,143		919
Crude Oil and Natural Gas Properties and Other Properties	(43,415)		124,531
Interest Carryforwards	10,050		—
Derivative Instruments	52,891		63,739
Other	(424)		(178)
Total Net Deferred Tax Assets (Liabilities) Before Valuation Allowance	156,269		341,348
Valuation Allowance	(156,269)		(341,348)
Total Net Deferred Tax Assets	$	—	$	—